TIDMAGL

RNS Number : 2717G

Angle PLC

05 November 2018

 
 For immediate release    5 November 2018

ANGLE plc ("the Company")

Acquisition of outstanding shares in ANGLE North America Inc

ANGLE plc (AIM:AGL OTCQX:ANPCY), a world-leading liquid biopsy company, announces that it has reached agreement with Dr Georgi Hvichia, the original inventor of the Parsortix microfluidic technology, that ANGLE will acquire Dr Hvichia's outstanding shares in ANGLE's US operating subsidiary ANGLE North America Inc ("ANAI") by way of a share-for-share exchange between ANAI and ANGLE plc such that on completion, ANGLE will own 100 per cent. of ANAI. Dr Hvichia is currently a director of ANAI but is moving to a scientific advisory board member role following the completion of this transaction.

The Company has agreed to issue Dr Hvichia with 1,000,000 new ordinary shares of 10 pence each in the capital of the Company ("Consideration Shares") as consideration to acquire the outstanding 303,335 shares in ANAI that ANGLE does not currently own, representing 9.47% of the ANAI issued share capital and c. 3.4% on a fully diluted basis. The Consideration Shares represent approximately 0.70 per cent. of the current issued share capital of the Company. Using the closing mid-market price of an Ordinary Share of 46.75 pence on 2 November 2018, being the last practicable date prior to this announcement, the Consideration Shares have a value of approximately GBP467,500. Upon Admission of the Consideration Shares, ANGLE will own 100 per cent. of ANAI and Dr Hvichia will own 1,084,425 Ordinary Shares in ANGLE, representing approximately 0.76 per cent. of the enlarged issued share capital of the Company.

The agreement provides ANGLE with a clean 100% ownership position in all its Group companies facilitating efficient financial, operational and administrative management. This is particularly important as ANAI owns core intellectual property in relation to the Parsortix(TM) system.

Total Voting Rights

Application will be made for the Consideration Shares to be admitted to trading on AIM and it is expected that Admission will become effective and trading will commence in the Consideration Shares at 8.00 a.m. on 9 November 2018. The Consideration Shares will rank pari passu with the Company's existing Ordinary Shares. On Admission the Company's issued share capital will comprise 143,486,522 Ordinary Shares. The Company holds no Ordinary Shares in treasury. Accordingly, the figure of 143,486,522 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.

ANGLE Founder and Chief Executive, Andrew Newland, commented:

"We are pleased to reach agreement with Georgi Hvichia, the original inventor of the Parsortix microfluidic technology, to acquire his remaining shareholding in our US operating subsidiary in exchange for ANGLE plc shares. Dr Hvichia will remain involved through his new role as a scientific advisory board member."

For further information ANGLE:

 
 ANGLE plc                                          +44 (0) 1483 343434 
 Andrew Newland, Chief Executive 
  Ian Griffiths, Finance Director 
 finnCap Ltd (NOMAD and Joint Broker) 
  Corporate Finance - Carl Holmes, Simon 
  Hicks, Max Bullen-Smith 
  ECM - Alice Lane                                  +44 (0)20 7220 0500 
 WG Partners (Joint Broker) 
  Nigel Barnes, Nigel Birks, Andrew Craig, 
  Chris Lee                                         +44 (0) 203 705 9330 
 FTI Consulting 
  Simon Conway, Mo Noonan, Stephanie Cuthbert         +44 (0) 203 727 1000 
  Matthew Ventimiglia (US)                            +1 212 850 5612

This announcement contains inside information.

   About ANGLE plc     www.angleplc.com

ANGLE is a world leading liquid biopsy company with sample to answer solutions. ANGLE's proven patent protected platforms include an epitope-independent circulating tumor cell (CTC) harvesting technology and a downstream analysis system for cost effective, highly multiplexed analysis of nucleic acids and proteins.

ANGLE's cell separation technology is called the ParsortixTM system and it enables a liquid biopsy (simple blood test) to be used to provide the cells of interest. Parsortix is the subject of granted patents in Europe, the United States, Canada, India, China, Japan and Australia and three extensive families of patents are being progressed worldwide. The system is based on a microfluidic device that captures live cells based on a combination of their size and compressibility. The Parsortix system has a CE Mark for Europe and FDA clearance is in process for the United States.

ANGLE's analysis technology for proteins and nucleic acids of all types is called Ziplex(R) and is based on a patented flow through array technology. It provides for highly multiplexed, rapid and sensitive capture of targets from a wide variety of sample types. A proprietary chemistry allows for the capture and amplification of over 100 biomarkers simultaneously in a single reaction. These technologies can be combined to provide fully automated, sample to answer results in both centralised laboratory and point of use cartridge formats. It is ideal for measuring gene expression and other markers directly from Parsortix harvests.

ANGLE has established formal collaborations with world-class cancer centres. These Key Opinion Leaders are working to identify applications with medical utility (clear benefit to patients), and to secure clinical data that demonstrates that utility in patient studies. Details are available here http://www.angleplc.com/the-company/collaborators/

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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